Chipotle Mexican Grill

68935 East Palm Canyon Drive, Cathedral City, CA 92234

$4,120,000

Cap Rate 4.25%

Views: 105 DOM: 93 Updated: 10.29.24 Posted: 09.19.24 Status: Active

Summary

Price $4,120,000	Built/Renov 2024	Tenant Chipotle Mexican Grill
Cap Rate 4.25%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,325	Lease Start 12-01-2024	#Units 3,437
Price/SF $1,772.04	Expiration 11-30-2039	Tenant Type Fast Casual/Rest.
NOI $175,000	R. Term 14.11	Ownership Fee Simple
Rent/SF $75.27	Increases 10.0%/5/yrs	Pop 5Mi 98,724
Lot/AC 0.65	Options 3/5yrs/10%	AHHI 5Mi $104,191

Lease Highlights

Brand new 2024 construction
New 15-year lease with 3 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease (NYSE: CMG)

Location Description

Chipotle Mexican Grill is strategically located at the signalized, hard corner intersection of Palm Canyon Drive and Date Palm Drive, a major north/south thoroughfare, with access to a robust daily traffic of 55,000 vehicles. The property is directly across from the new Agua Caliente Casino Cathedral City, which is ranked among the top 2% of casinos nationwide according to Placer.ai. Situated...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
New development zone
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
Corporate Guarantee

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Cathedral City, California Zip Code 92234 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chipotle Mexican Grill
Guarantor:Corp Traded
Company:Chipotle Mexican Grill, Inc.
# Units:3,437
Stock: NYSE: CMG

About Tenant

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company...

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Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
17886 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17446 Views
65 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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